As 2026 begins, Bitcoin (BTC) is locked in a state of equilibrium, with on-chain data revealing a tense balance between sellers taking profits and persistent demand from long-term holders. After a volatile 2025, BTC has stalled near the $88,000 mark, and key metrics show a market lacking a clear directional bias. Source: Coinbase Bitcoin Trades Sideways as On-chain Metrics Split Selling pressure, while present, is not indicative of panic. The Spent Output Profit Ratio (SOPR), a key on-chain indicator, ...